AAK is to acquire Turkish frying oil brand Frita from Unilever. Frita, said to be a market leader in the frying oil segment in Turkey, covers a significant part of the local food service market. The brand had revenues of approximately SEK 75 million in 2013.
The acquisition should be seen as a natural addition to AAK Turkey’s existing product portfolio, the company said, and is an add-on to the Unipro acquisition during the third quarter of 2013.
“Frita has a very good reputation in Turkey and AAK Turkey already covers 80 percent of the Frita customers with our current bakery distribution”, said Torben Friis Lange, president Asia, CIS and Middle East. “By acquiring Frita, we will extend AAK Turkey’s product offerings.”
The company said that the impact on AAK’s operating profit is expected to be very limited.
Earlier, AAK had announced its second quarter results with operating profits at a record SEK 272 million, up 11%. The results, said the company, were driven by the expected and continued significant improvement in chocolate and confectionery fats and continued improvements in food ingredients.
